BankNifty Intraday Trade Setup | 8th Jan '24

Today BankNifty opened with a gap-up above our buy level of 48250 and struggled at upper levels, we saw profit booking around 48400. BankNifty triggered our sell level 47950 and hit the 1st target.

For Monday, BankNifty has to sustain above 48450 for further upside which can take BankNifty towards 48570 and upper levels. On the other side, if BankNifty breaks 47950 again on downside, we expect to see 47840 and below marked levels on the chart.

Between this zone, trading will be tricky so better to avoid.

Expectations: Volatile day.

Intraday Levels:
Buy Above - 48450
Sell Below - 47950

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Happy Trading!
InvestPro India Team